Appendix 9 - Statement of accounts

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Group revenue account (year ended 31 March)	2002/03 £m	2001/02 £m
Highways, roads and transport services
Expenditure	1,488.5	1,072.2
Revenue	(717.3)	(518.4)
Depreciation net of release of deferred grants	135.3	104.2
Capital financing charges	126.8	122.6
Net cost of services	1,033.3	780.6
Losses of joint venture company before grant	12.6	3.0
Depreciation net of release of deferred grants - reversal	(125.9)	(94.7)
Capital financing charges - reversal	(126.8)	(122.6)
Finance lease charges	22.4	22.1
Interest and investment income	(7.7)	(3.9)
Net operating expenditure	807.9	584.5
Transfer to/(from) reserves	(10.1)	9.2
Capital expenditure financed from revenue	249.2	132.2
Total amount to be met from government grant and local taxation	1,047.0	725.9
Transport grant	(1,024.1)	(717.1)
Capital expenditure financed from revenue	(5.1)	(0.5)
Other revenue grant	(5.1)	(0.5)
Precept	(35.8)	(10.1)
Surplus in the year	(18.0)	(1.8)

Group balance sheet (year ended 31 March)	2002/03 £m	2001/02 £m
Tangible fixed assets
Infrastucture	2,795.6	2,597.5
Other property	41.7	37.0
Rolling stock and equipment	288.6	220.4
Non-operational assets	120.2	92.9
Total fixed assets	3,246.1	2947.8
Current assets
Stocks	4.5	5.4
Debtors	170.1	134.3
Short-term investments	162.6	108.6
Cash at bank and in hand	0.4	16.3
Total current assets	337.6	264.6
Current liabilities
Short-term borrowings	(20.0)	-
Creditors	(324.0)	(257.4)
Bank overdrafts	(17.6)	(21.8)
Total current liabilities	(361.6)	(279.2)
Net current liabilities	(24.0)	(14.6)
Total assets less current liabilities	3,222.1	2,933.2
Creditors: due after more than one year	(229.8)	(230.4)
Provisions for liabilities and charges	(89.5)	(112.4)
Net assets excluding grants	2,902.8	2,590.4
Deferred grants	(229.8)	(230.4)
Provisions for liabilities and charges	(685.1)	(650.8)
Net assets	2,217.7	1,939.6
Capital and reserves
Capital financing reserve	345.5	176.4
Fixed asset restatement reserve	1,851.3	1,751.1
Reserves	-	9.2
General fund	20.9	2.9
Total capital employed	2,217.7	1939.6

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